Financial advisor recommendation needed?

T

Tricia19

New Member
Messages
2
I am looking for recommendations for a good reputable financial advisor and/broker.

I am just beginning to get my life on track again financially. No savings, but have a small amount in an old private pension and have a life assurance policy.

I work on a temporary contract so I am very vulnerable if I became unable to work so I am looking at both income protection and critical illness cover. So far I am getting very conflicting advice and don't know who or what to believe at this stage .

If anyone could point me in the direction of any reputable companies I would really appreciate it .
This is my first time posting, so thanks in advance
 
Why don't you try doing a Money Makeover here?

Key Post - Basic information required for the "Money Makeover" forum

It can be difficult, but please try to use a meaningful title in your thread For example "27 year old with mortgage arrears". You will get a much better and much more coherent answer if you give as much information as possible in your first post. For example, if you give your mortgage rate, it...
www.askaboutmoney.com
Even if you still decide to go to a financial advisor you'll be going armed with some useful feedback and ideas...
 
Tricia19 said:
so I am looking at both income protection and critical illness cover.
Click to expand...

Critical Illness cover (sometimes called Specified Serious Illness cover) pays a lump sum if you are diagnosed with one of the listed illnesses. The illnesses covered are usually the major ones: heart attack, stroke, cancer... that level of severity. If you get one of the listed illnesses, you get a claim. If you don't, you don't.

Income Protection pays an income if you cannot do your own job for longer than the waiting period due to ANY illness or injury. There's no list of illnesses covered. If it's serious enough to render you unable to do your job, it's a potential claim.

Both have their merits, but if the budget only stretches to one or the other I'd go with Income Protection as the numbers of illnesses covered are almost infinite. You get tax relief on Income Protection premiums; not on Critical Illness premiums.
 
Thanks a million for replies. Income protection would be my preference but am running into problems with a pre existing condition. I am waiting to hear back from underwriters on whether they will cover me at all , or the loading or exclusions
 
You must log in or register to reply here.
Back
Top